Boyd Gaming closes Pala Interactive acquisition for $170m
The company CEO says this is an important step toward additional digital expansion.
Boyd Gaming Corporation has completed a previously announced deal to acquire Pala Interactive LLC, as well as its subsidiaries. The company closed the purchase agreement for a net cash total of $170m.
Boyd Gaming President and CEO Keith Smith noted the importance of growing within the online casino market and said acquiring Pala Interactive has the potential to give the company a competitive edge.
He commented: “Online casino gaming is an attractive growth opportunity for our company, and the acquisition of Pala Interactive provides us with the technology, products and expertise to create a profitable regional online casino business.”
Smith also expressed the company’s excitement to collaborate with Pala’s team and strengthen its land-based locations.
He said in closing: “We look forward to working with the Pala Interactive team in executing our online casino gaming strategy, which will complement our existing land-based operations and further expand our nationwide customer base.”
Las Vegas-based Boyd Gaming was founded in 1975. The company operates 28 gaming entertainment properties in ten states, including five properties in Louisiana.
It is the parent company of Treasure Chest, which recently announced a $95m gambling expansion plan in the city of Kenner, Louisiana. This is due to Louisiana legislation that will now allow floating riverboat casinos to move onto land.
Treasure Chest is the third riverboat to make this transition since the state approved these legislative measures three years ago.
Boyd Gaming recently published its latest annual environmental, social and corporate governance (ESG) report.
The company reported that it has made significant efforts during the fiscal year to improve environmental conditions, as well as positive in-house changes and philanthropic efforts.
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